The Knesset Economics Committee approved the bill submitted by the Minister of Finance, Yair Lapid, for reform in standardisation.

The reform was developed by the Ministry of Finance with the aim of advancing the Israeli economy to the forefront in the field of international trade, in line with Western European countries, in order to reduce the price of goods imported into Israel while maintaining their safety and quality and safeguarding the consumer public, which will lead to increased competition and a reduction in the cost of living.

The law will especially benefit small businesses and importers who until now have struggled to deal with the numerous regulatory requirements required of them when importing products to Israel.

 

The legislative amendment that was approved today is a key element in a series of steps which the Ministry of Finance is leading to lower the cost of living by removing barriers on imports to Israel. This step is accompanied by an additional step that is currently taking place, recognising international laboratory authorisations, which will enable the import of the largest range of international branded products from leading companies, without any need for further testing and confirmation, as is the accepted practice in Western European countries.

 

The Minister of Finance, Yair Lapid said: “We are working tirelessly through a wide range of channels to lower the cost of living in Israel and to remove bureaucratic barriers that create a burden on the consumer public in Israel”.